The March NASDAQ 100 closed sharply higher on Wednesday and posted a new contract high as it renewed this winter's rally.The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. With March now trading in record territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 6354.39 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 6589.00. Second resistance is unknown. First support is the 50-day moving average crossing at 6354.39. Second support is December's low crossing at 6250.00.

The March S&P 500 closed into record highs on Wednesday as it renewed this winter's rally. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this winter's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2673.18 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 2711.20. Second resistance is unknown. First support is the 20-day moving average crossing at 2673.18. Second support is the 50-day moving average crossing at 2623.21.

The Dow closed higher on Wednesday and posted a new contract high as it is resuming this winter's rally.The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bearish signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at 24,604.65 would confirm that a short-term top has been posted. With the Dow now trading into uncharted territory, upside targets will be hard to project. First resistance is today's high crossing at 24,909.55. Second resistance is unknown. First support is the 20-day moving average crossing at 24,604.65. Second support is the reaction low crossing at 24,101.48.

March T-bonds closed higher on Wednesday as it consolidated some of Tuesday's loss. Treasury prices posted modest gains while leaving yields slightly lower, after minutes of the Federal Reserve’s December policy meeting highlighted a division over the central bank’s forecast for three rate increases in 2018.The minutes unveiled two camps, both uncomfortable with the Fed’s December forecast of three rate increases in 2018 with one faction worried the pace might be too aggressive, while another feared it would be too slow. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off December's high, October's low crossing at 149-07 is the next downside target. If March renews the rally off December's low, December's high crossing at 154-18 is the next upside target. First resistance is December's high crossing at 154-18. Second resistance is the 75% retracement level of the September-October-decline crossing at 154-21. First support is December's low crossing at 150-18. Second support is October's low crossing at 149-07.

March T-notes closed up 35/32's at 123-255.

March T-notes closed higher on Wednesday. The mid-range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off September's high, weekly support crossing at 122.205 is the next downside target. Closes above the 20-day moving average crossing at 124.010 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 124.010. Second resistance is the 50-day moving average crossing at 124.117. First support is December's low crossing at 123.125. Second support is weekly support crossing at 122.205.

February crude oil closed higher on Wednesday to a close at a nearly three-year high as anti-government protests rattled Iran, raising concerns over the potential for disruptions to crude output from OPEC’s third-largest producer. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. If February extends the aforementioned rally, the 50% retracement level of the 2014-2016-decline crossing at 64.11 is the next upside target. Closes below the 20-day moving average crossing at 58.27 would confirm that a short-term top has been posted. First resistance is today's high crossing at 61.91. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 64.11. First support is the 10-day moving average crossing at 59.37. Second support is the 20-day moving average crossing at 58.27.

February heating oil closed higher on Wednesday and is challenging resistance marked by the 75% retracement level of the 2014-2016-decline crossing at 208.51. The high-range close sets the stage for a steady to higher opening when Thursday's night trading session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off October's low, the 87% retracement level of the 2014-2016-decline crossing at 222.40 is the next upside target. Closes below the 20-day moving average crossing at 196.39 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the 2014-2016-decline crossing at 208.51. Second resistance is the 87% retracement level of the 2014-2016-decline crossing at 222.40. First support is the 10-day moving average crossing at 201.36. Second support is the 20-day moving average crossing at 196.39.

February unleaded gas closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the aforementioned rally, the May-2015 high crossing at 186.01 is the next upside target. Closes below the 50-day moving average crossing at 173.78 would confirm that a short-term top has been posted. First resistance is December's high crossing at 181.53. Second resistance is the May-2015 high crossing at 186.01. First support is the 50-day moving average crossing at 173.78. Second support is December's low crossing at 166.19.

February Henry natural gas closed lower due to profit taking on Wednesday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the aforementioned rally, the reaction high crossing at 3.210 is the next upside target. Closes below the 20-day moving average crossing at 2.786 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 3.097. Second resistance is the reaction high crossing at 3.210. First support is December's low crossing at 2.562. Second support is weekly support crossing at 2.522.

The March Dollar closed higher due to short covering on Wednesday as it consolidates some of the decline off December's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, the 87% retracement level of the September-November-rally crossing at 91.20 is the next downside target. Closes above the 20-day moving average crossing at 92.89 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 92.52. Second resistance is the 20-day moving average crossing at 92.89. First support is the 87% retracement level of the September-November-rally crossing at 91.20. Second support is September's low crossing at 90.68.

The March Euro closed lower on Wednesday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, September's high crossing at 122.11 is the next upside target. Closes below the 20-day moving average crossing at 119.26 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 121.35. Second resistance is September's high crossing at 122.11. First support is the 10-day moving average crossing at 119.90. Second support is the 20-day moving average crossing at 119.26.

The March British Pound posted a key reversal down on Wednesday signaling a potential double top with December's high. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, September's high crossing at 1.3695 is the next upside target. Closes below the 20-day moving average crossing at 1.3463 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1.3646. Second resistance is September's high crossing at 1.3695. First support is the 20-day moving average crossing at 1.3463. Second support is the 50-day moving average crossing at 1.3359.

The March Swiss Franc closed lower on Wednesday as it consolidates some of the rally off December's low. The mid-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but are poised to turned neutral to bearish with additional weakness signaling that a short-term top has been posted. Closes below the 50-day moving average crossing at 1.0195 would confirm that a short-term top has been posted. If March extends the rally off October's low, the 50% retracement level of the July-September-decline crossing at 1.0412 is the next upside target. First resistance is December's high crossing at 1.0352. Second resistance is the 50% retracement level of the July-September-decline crossing at 1.0412. First support is the 50-day moving average crossing at 1.0195. Second support is December's low crossing at 1.0103.

The March Canadian Dollar closed lower due to profit taking on Wednesday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, October's high crossing at 80.42 is the next upside target. Closes below the 50-day moving average crossing at 78.49 would confirm that a short-term top has been posted. First resistance is today's high crossing at 80.09. Second resistance is October's high crossing at 80.42. First support is the 50-day moving average crossing at 78.49. Second support is December's low crossing at 77.52.

The March Japanese Yen closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off the December 21st low, December's high crossing at 0.8981 is the next upside target. Multiple closes below the 10-day moving average crossing at 0.8984 are needed to confirm that a short-term top has been posted. First resistance is November's high crossing at 0.9073. Second resistance is the 62% retracement level of the September-November-decline crossing at 0.9141. First support is December's low crossing at 0.8840. Second support is November's low crossing at 0.8782.

February gold closed lower on Wednesday as it consolidates some of the rally off December's low. The mid-range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher price are possible near-term. If February extends the aforementioned rally, the 75% retracement level of the September-December-decline crossing at 1334.00 is the next upside target. Closes below the 20-day moving average crossing at 1272.90 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1323.00. Second resistance is the 75% retracement level of the September-December-decline crossing at 1334.00. First support is the 10-day moving average crossing at 1289.90. Second support is the 20-day moving average crossing at 1273.00.

March silver closed slightly lower on Wednesday as it consolidates some of the rally off December's low. The mid-range close set the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, November's high crossing at 17.485 is the next upside target. Closes below the 20-day moving average crossing at 16.310 would confirm that a short-term top has been posted. First resistance is today's high crossing at 17.270. Second resistance is November's high crossing at 17.485. First support is the 10-day moving average crossing at 16.671. Second support is the 20-day moving average crossing at 16.310.

March copper closed lower on Wednesday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 314.07 are needed to confirm that a short-term top has been posted. If March resumes the aforementioned rally, the August-2013 high crossing at 334.05 is the next upside target. First resistance is December's high crossing at 332.20. Second resistance is the August-13 high crossing at 334.05. First support is the 10-day moving average crossing at 324.97. Second support is the 20-day moving average crossing at 314.07.

March corn closed fractionally lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 3.55 are needed to confirm that a short-term low has been posted. If March resumes the decline off November's high, weekly support crossing at 3.32 is the next downside target. First resistance is the 50-day moving average crossing at 3.55. Second resistance is December's high crossing at 3.60 1/2. First support is December's low crossing at 3.46 1/2. Second support is weekly support crossing at 3.32.

March wheat closed up 1 1/2-cents at 4.35.

March wheat closed higher on Wednesday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 4.34 1/4 are needed to confirm that a short-term low has been posted. If March resumes the decline off July's high, psychological support crossing at 4.00 is the next downside target. First resistance is the 50-day moving average crossing at 4.34 1/4. Second resistance is December's high crossing at 4.60 3/4. First support is December's low crossing at 4.10 1/2. Second support is psychological support crossing at 4.00.

March Kansas City Wheat closed up 6 1/4-cents at 4.41.

March Kansas City wheat closed higher on Wednesday as it extended yesterday's breakout above the 50-day moving average crossing at 4.33 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that a low might be in or is near. If March extends the rally off December's low, November's high crossing at 4.51 1/2 is the next upside target. Closes below the 20-day moving average crossing at 4.22 1/2 would confirm that a short-term top has been posted. First resistance is December's high crossing at 4.41. Second resistance is November's high crossing at 4.51 1/2. First support is December's low crossing at 4.10 1/2. Second support is psychological support crossing at 4.00.

March Minneapolis wheat closed up 1 3/4-cents at 6.19 3/4.

March Minneapolis wheat closed higher on Wednesday as it extends the trading range of the past two-weeks. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is are possible near-term. If March renews the decline off November's high, the 87% retracement level of the April-July-rally crossing at 5.89 1/2 is the next downside target. Closes above the 50-day moving average crossing at 6.28 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 6.28 1/2. Second resistance is December's high resistance crossing at 6.34. First support is December's low crossing at 6.05. Second support is the 87% retracement level of the April-July-rally crossing at 5.89 1/2.

March soybeans closed higher due to short covering on Wednesday as it consolidated some of the decline off December's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 9.79 1/4 are needed to confirm that a short-term low has been posted. If March resumes the decline off December's high, the late-August low crossing at 9.50 is the next downside target. First resistance is the 20-day moving average crossing at 9.79 1/4. Second resistance is the 50-day moving average crossing at 9.91 1/4. First support is December's low crossing at 9.54 3/4. Second support is the late-August low crossing at 9.50.

March soybean meal closed up $1.10 at 319.00.

March soybean meal closed higher due to short covering on Wednesday as it consolidated some of the decline off December's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 325.60 would confirm that a low has been posted. If March extends the decline off December's high, November's low crossing at 315.00 is the next downside target. First resistance is the 50-day moving average crossing at 324.00. Second resistance is the 20-day moving average crossing at 325.60. First support is December's low crossing at 315.70. Second support is November's low crossing at 315.00.

March soybean oil closed up 31 pts. At 33.86.

March soybean oil closed higher on Wednesday as it extends the rebound off December's low. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 50-day moving average crossing at 34.18 is the next upside target. Closes below the 10-day moving average crossing at 33.22 would signal that a short-term top has been posted. First resistance is today's high crossing at 33.91. Second resistance is the 50-day moving average crossing at 34.18. First support is December's low crossing at 32.52. Second support is the 87% retracement level of the June-September-rally crossing at 32.44.

April hogs closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 73.46 would confirm that a short-term top has been posted. If April extends the rally off December's low, weekly resistance crossing at 78.25 is the next upside target. First resistance is last Friday's high crossing at 76.32. Second resistance is weekly resistance crossing at 78.25. First support is the 20-day moving average crossing at 73.46. Second support is December's low crossing at 70.97.

February cattle closed down $0.40 at 122.95.

February cattle posted an inside day with a lower close on Wednesday. The mid-range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off December's low, the 50-day moving average crossing at 123.77 is the next upside target. Closes below the 20-day moving average crossing at 120.15 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 123.77. Second resistance is the reaction high crossing at 126.78. First support is December's low crossing at 117.58. Second support is the 75% retracement level of the August-November-rally crossing at 115.06.

March Feeder cattle closed down $0.05 at $146.83.

March Feeder cattle closed slightly lower on Wednesday as it consolidated some of the rally off December's low. The high-range close sets the stage for a steady to higher opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 50-day moving average crossing at 149.17 is the next upside target. First resistance is the 50-day moving average crossing at 149.17. Second resistance is the reaction high crossing at 154.05. First support is the 10-day moving average crossing at 142.36. Second support is December's low crossing at 138.30.

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food

March coffee closed lower on Wednesday as it consolidated some of Tuesday's rally but remains above the 50-day moving average crossing at 12.65. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, November's high crossing at 13.30 is the next upside target. Closes below the 20-day moving average crossing at 12.32 would confirm that a short-term top has been posted.

March cocoa closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 50-day moving average crossing at 20.24 is the next upside target. If March renews the decline off November's high, weekly support crossing at 17.91 is the next downside target.

March sugar closed slightly lower on Wednesday as it consolidates some of the rally off December's low. The high-range close set the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, November's high crossing at 15.49 is the next upside target. Closes below the 20-day moving average crossing at 14.46 would confirm that a short-term top has been posted.

March cotton closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 75.78 are needed to confirm a short-term top has been posted. If March extends the rally off October's low, weekly resistance crossing at 80.67 is the next upside target.